News

Block cheese prices lowest since 2003

January 24, 2006

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LOUISVILLE, Ky. — The price of block cheese traded at the Chicago Mercantile Exchange fell to $1.29 on Jan. 25, the lowest since June 2003.

According The Daily Dairy Report Web site, ample supplies are keeping buyers on the sidelines waiting for prices to stabilize. Both U.S. milk production and cheese stocks are high, which is keeping milk futures prices low.

The market still has room to fall — all the way to $1.13 — before hitting government support levels. Prices haven't been that low since 2002, when blocks dipped below $1 a pound.

Read more in our Cheese Market Analysis Research Center.